706 Gwydir HighwayWaterview Heights NSW 2460
Property Details for 706 Gwydir Hwy, Waterview Heights
Last Listing description (April 2019)
An outstanding opportunity to secure this freehold motel, ideally located on the Gwydir Highway. The first time offered for sale in over 35 years, the Hilldrop Motor Inn is nestled on 3 acres of land with a large portion of unused land that has possible subdivision potential (STCA).
The motel comprises of 10 clean and comfortable air-conditioned rooms that have undergone cosmetic renovations and comprise of bedding, bar fridges, air conditioning and ceiling fans, small flat screen TVs and bathrooms equipped with a shower, vanity and toilet. The two additional self-contained flats included are currently rented long term, providing a consistent return. Guests dining needs are catered for with a 50 sqm dining room fitted with a commercial kitchen; which is DA approved.
Conveniently adjacent to the motel reception is the delightfully renovated owner's residence; containing a fully functional kitchen, cosy living area, bathroom, two bedrooms and a private backyard. Included in this package is an in-ground swimming pool, ride-on mower, telephone system and a 23 seat Coaster bus.
This motel is being sold as walk in walk out and the current occupancy this year stands at a whopping 80%; which leads to an adjusted net operating profit of $146,419 per annum, equating to a 14.5% return on investment ratio.
What an attractive opportunity to enjoy the benefits of a relaxed country lifestyle with an income. Secure this rare opportunity and set yourself up for life. Call us today to arrange your private inspection and financials are available upon request.
Property History for 706 Gwydir Hwy, Waterview Heights, NSW 2460
- 17 Sep 2019Listed for Sale $995,000
- 06 Apr 2018Sold for $850,000
- 04 Mar 2016Listed for Sale $995,000
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0About Waterview Heights 2460
The size of Waterview Heights is approximately 58.3 square kilometres. The population of Waterview Heights in 2011 was 1,384 people. By 2016 the population was 1,307 showing a population decline of 5.6% in the area during that time. The predominant age group in Waterview Heights is 50-59 years. Households in Waterview Heights are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Waterview Heights work in a trades occupation. In 2011, 91.9% of the homes in Waterview Heights were owner-occupied compared with 90.3% in 2016.
Waterview Heights has 581 properties. Over the last 5 years, Houses in Waterview Heights have seen a 61.57% increase in median value. As at 31 October 2024:
- The median value for Houses in Waterview Heights is $691,557 while the median value for Units is $266,311.
- Houses have a median rent of $350.
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